San’an Acquires Subsidy of RMB $56 Million

Already rich in government subsides, San’an Optoelectronics acquired another last month. The company released a statement that on September 30th they received Anxi county finance bureau “sapphire substrate project” appropriated subsidy for RMB $55.587 million.

San’an said that according to relevant laws and regulation for industry accounting criteria, upon confirmed appropriation, the lump sum will be considered as earnings for the current quarter. This will have a definite impact on the company’s 3Q performance.

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